McKinsey and Its Peers Are Facing the Wildest Headwinds in Years

It was a feast of glitz and glamor when McKinsey & Co.’s senior partners descended on Seoul last month for the blue-blood firm’s soiree.

Mayor Oh Se-hoon welcomed the attendees to the South Korean capital in a brief video. Amazon.com Inc.’s Andy Jassy beamed in and South Korean pop star Psy, famous for the viral hit Gangnam Style, performed live. Rio Tinto Group Chairman Dominic Barton, a former McKinsey global managing partner, and Hyundai Motor Co. Chief Executive Officer Jay Chang were also present.

“I love that we are a CEO factory,” Global Managing Partner Bob ...